IBG, Inc.(US:IBKR) Zheng Quan Shi Bao·2025-09-10 18:11Group 1 - Interactive Brokers, a major US-based online brokerage, has tightened its account opening policies for residents of mainland China, requiring proof of overseas work or residence [2][3] - The Interactive Brokers app has been removed from mainland Chinese app stores, making it inaccessible for new users in the region [3] - The tightening of account opening policies follows a trend among several overseas brokerages, including Futu Securities and Tiger Brokers, which have also restricted access for mainland Chinese residents [5][6] Group 2 - The tightening measures come amid reports that many mainland investors received tax notifications related to overseas income, prompting attempts to open accounts with Interactive Brokers to avoid tax information exchange under the CRS framework [2][6] - The company operates globally, allowing clients to trade across 150 markets, but has not obtained the necessary licenses to conduct brokerage business in mainland China [3][5] - The tax implications for mainland investors trading through Hong Kong's stock connect program are more favorable compared to opening overseas accounts, as certain tax exemptions apply [7]